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Shoezone

October 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • SHOE
  • Price:
  • 124.5p
Shoezone said trading conditions have been challenging since its interim results on 21st May (industry data shows a 2.7% July drop in high street footfall) and it now expects full year performance to be below expectations. On the plus side it’s on track to have 45 Big Box stores open by the end of 2019 with the most recent openings significantly outperforming expectations while Digital sales have also done well. The problem is that its legacy high street stores (c. 470 outlets) have struggled with the under-performance broad based though gross margins have remained stable. It’s also writing down the value of 17 freehold properties by £3.1m to £5.3m. CEO Nick Davis has resigned and Chairman Anthony Smith will resum ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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